CAC40 Forecast: Parisian Index Reaches All-Time Highs
At this point, we have formed a huge basing pattern and now it looks like the double bottom is going to kick off a pretty big move. The end of the year could be a bit choppy and noisy, but really at the end of the day this tells me that the CAC is more than likely going to kick off the next year as well. I believe the very first target will be the 7200 level.
The next couple of sessions will be a little bit noisy, but I suspect that when traders come back after New Year’s Day, they will be more than willing to throw a lot of money into this market in order to pick up risk in a market that I think clearly looks as if it is ready to continue going higher. I think this is true not only in the CAC, but in several other risk-related assets that I follow right now.
I buy on dips, I have no interest whatsoever in trying to short this market even if you were to tell me that we are going to fall for the next three days in a row.
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